Another month of good news on the housing-starts front. New permits for February were up 33.8 percent year-on-year, and new starts (a noisier data series that I like less) were up 27.7 percent year-on-year. Permits continue to exceed starts, seeming to offer indication of momentum built into the system. More than a third of the newly permitted units are in multifamily structures, which is consistent with the new shape of housing finance in the United States. The country still ought to do a lot more to expand the range of terrain on which it is legal to build multifamily structures. As people continue to yammer about tax rates and "uncertainty," I think this continues to be the No. 1 supply-side issue that would have a meaningful impact on the short-term economic outlook.
TODAY IN SLATE
I was hit by a teacher in an East Texas public school. It taught me nothing.
Chief Justice John Roberts Says $1,000 Can’t Buy Influence in Congress. Looks Like He’s Wrong.
After This Merger, One Company Could Control One-Third of the Planet's Beer Sales
Hidden Messages in Corporate Logos
If You’re Outraged by the NFL, Follow This Satirical Blowhard on Twitter
Giving Up on Goodell
How the NFL lost the trust of its most loyal reporters.